In business news today, parent company of Ocean 100 and our sister station Hot 105.5 – Newcap Radio – has been sold to Stingray Music.
Stingray is a Montreal based multi- platform music and video service provider with operations in 156 countries. Stingray was founded in 2007 and today has over 400 million subscribers. Some of their brands include audio music channels on television, premium channels in HD, mobile applications and commercial services.
Newcap’s local General Manager Jennifer Evans says this an exciting day for radio.
“The acquisition of Newcap Radio by Stingray Music is a very progressive move for our company and the radio industry. Stingray does not have a radio division so they are very excited to have us. Together, Newcap and Stingray will now be able to present audio and video content on a wide range of platforms to audiences around the world. We are very excited about the new product opportunities that we will be able to offer our listeners and our advertisers.”
The final sale of Newcap Radio is pending CRTC approval.